Business Studies slideshow for grade 11 classroom preparation.

1. SUBJECT: BUSINESS STUDIES
 By: Siyabonga Mkhaliphi

2. ENTREPRENEURIAL QUALITIES AND
SUCCESS FACTORS

3. WHAT IS AN ENTREPRENEUR?
entrepreneur is an entrepreneur is
someone who starts and manages
or organises his/her own business
and can either identify business
opportunities to make new products
or services

4. ENTREPRENEURIAL QUALITIES
 CREATIVITY
 RISK-TAKING
 HARDWORKING
 NEED FOR ACHIEVEMENT
 ETC

5. SUCCESS FACTORS FOR BUSINESS
 SUSTAINABILITY
 PROFITABILITY
 COSTING
 PRICING
 CUSTOMER BASE

6. SUSTAINABILITY
 Business sustainability means managing
the three Ps: profits, people and the
planet.
 Businesses that are sustainable are more
successful, attract and retain employees
and experience less financial and
reputation risk.
BUSINESSES NEED TO BE:
 Have skills to ensure that business is
successful and will operate in future
 Put strategies in place to address

7. PROFITABILITY
 The entrepreneur must ensure that the
business is able to make maximum profits,
and that profit grows on a year-to-year
basis.
 When measuring the profitability it is
important to consider both costing and
pricing.

8. COSTING
 Refers to calculating all your production
costs
 Includes calculations of the overheads costs
(labour, rent, delivery etc)

9. PRICING
 Refers to knowing exactly how much to
charge for your product or service
 It is important to know how much customers
are willing to pay for your product or service

10. CUSTOMER BASE
 An entrepreneur must identify the target
market for the business and be sure that the
product or service offered meets the
customer’s needs or wants.
 The entrepreneur should keep a record of the
people buying their products and services.
 The entrepreneur must constantly develop
new products and services to create new
needs and wants or to satisfy changing
needs and wants of customers